An Association that is age-restricted typically means that homeowners must be age 55 or over to live there. This is one area of discrimination law that allows restrictions based on age. Of course, there are some exemptions. You could own a home in the Association and be under the age of 55 because your parents have put it in your name as part of their estate planning, but actually live there themselves.
There are also cases where people under the age of 55 live in the home, such as grandkids who have to move in because something happened to their parents, having an older child who is mentally handicap, or a live-in care person.
The idea is to meet a need by creating a community for people 55 years or older. In general, this age group wants to be active, have options easily available to them, and doesn’t necessarily want a younger crowd around.
An age-restricted homeowners association might be for you if…
A requirement of age-restricted communities is that the Association needs to provide a social program. For example, inviting people to speak about relevant topics such as traveling or health, or even starting programs such as bike clubs, book groups, or Bunco night!
There are some disadvantages to living in an age-restricted homeowners association too, such as…
However, if you’re purchasing, that last bullet could also be an advantage! It’s important to remember to visit an Association and talk to residents to see how they like living there before you move in.
If you’re an HOA board member in an age-restricted homeowners association, it’s important to know your target market and what their needs are.
An age-restricted homeowners association is much more than sunshine and sipping cocktails – it’s providing an active community where people age 55 and older can build relationships by participating in programs relevant to them and enjoying some peace and quiet too.